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27 October, 20:44

Management has a legal and professional responsibility to be sure that the financial statements are prepared in accordance with reporting requirements of applicable accounting frameworks.

a. True

b. False

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Answers (1)
  1. 27 October, 20:59
    0
    a. True

    Explanation:

    An accounting framework represents a set of criteria that is used to measure, interpret, and disclose the information that appears in an organization's financial statements.

    The law of several nations mandates the Management of a company to prepare and present their financial statements in accordance with the laws of the nation. Since the law mandates this, it makes it a legal requirement.
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